I took out a title loan in the state of Missouri in 2012. I continued paying on the loan until I moved to another state in March of 2013. I never heard from this company after I moved. Finally in 2017, I contacted them because I wanted to surrender the car to them for the debt. I was told they have no offices in the state I’m now residing in & they had no interest in the vehicle because its no longer in the condition it was when I 1st took out the loan. This vehicle has become a big problem for me cause it doesn’t run anymore & I need to have it removed from the property its at. Without the title, my choices are limited. If I let the vehicle get impounded & them dispose of the vehicle to recoup any money owed to them, can the title loan company in Missouri file suit on me for the money owed? This loan is almost 7 years old and I haven’t made a payment on it for 6 years. I’ve tried to settle with them even offering them $750 just to be able to get the vehicle title back so I can get rid of it but they never get back to me. Please let me know what the statute of limitations are for collecting a debt.
You obviously have serious financial problems, if you have to take this type of a loan. To properly answer your questions and address your concerns, the best way to handle this is with an in person consultation with an experienced MO bankruptcy attorney. Use AVVO's Find a Lawyer tool to select a qualified attorney. Good luck. THIS IS NOT LEGAL ADVICE! YOU NEED TO SPEAK TO AN ATTORNEY WHO IS LICENSED IN YOUR STATE FOR LEGAL ADVICE. This is merely suggestions for you to think about in discussing your situation with the local attorney.
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